Hello! Welcome to this Lead Forensics Focus: Elevating your Marketing and Sales Success. Providing expert insight and leading advice in B2B marketing and sales.
In this video, I’m going to cover how you can build the ultimate sales pitch.
It’s time to throw away that old script and discover a new way to achieve sales success.
We’ll start today with a hard fact revealed.
In a recent study by the University of Florida it was revealed that The top 20% of salespeople currently close 80% of the sales.
This is commonly known as Parato’s law which basically is the principle that 80% of all wealth is held by 20% of the population. Its exactly the same in sales.
That means if an average team of 10 salespeople close 50 deals,…. two of them will have secured 20 deals each, and the other eight have closed just one or two.
This is a simply staggering statistic, and the first thing I’d be asking is what has that 20 % done that is so effective?
Simple- they’ve switched up their sales pitch. Were not talking a first cold call here but when you have the opportunity for a meeting or demo of your product.
1.The first and most important thing you need to do is put the prospect first.
Too many pitches are product orientated, and not prospect orientated.
Sales are being lost all over the place because 82% of salespeople are not aligned with the needs of their potential buyer. Its a shame – but it’s actually easier than you think.
You need to take time to do a little bit of research before a call, understanding the prospect’s industry, business size and market to better identify what they might need from your business. ( Fail to plan then you plan to fail)
This research can take just 10 minutes and has a powerful effect because 69% of buyers only deem a sales call “positive” if their specific needs were considered and discussed.
Don’t make the mistake of ignoring the easiest step you can take to creating the ultimate pitch, offering prospects an exciting and relevant conversation.
2..Building Trust – Quickly
People listen to who they like but buy from who they trust and the best pitch strikes a harmonious balance between professional and personal.
Now not all B2B decision makers want you to identify with them on a deep level, but when pitching your product, it’s easy to forget that you’re speaking to a person, not a company.
You’ll need to win them over as an individual as well as a business decision maker, by finding a common interest that grabs the prospect’s attention because they’re equally invested and passionate about it.
This Common interest gets the prospect talking in their comfort zone, boosts your credibility and helps you better position a successful pitch.
You can identify a key interest of the prospect by:
a. Using LinkedIn to research professional and personal interests
b. Engaging prospects with relevant business and industry news
c. Asking open-ended questions T – E – D
d. Listening carefully to their answers for small but significant details
The common interest can be anything. It could be something professional, like a pain point they’re currently looking to solve or a political development affecting business.
Or it could be something more personal, like a hobby you share or a company you’ve both worked for in the past.
3. Solve their problem
Early in the first call, ask your prospect to describe the current business problem they’re looking to solve.
Remember- the reason they should buy your product is because it can solve this problem!
61% of buyers want to receive relevant information about how you can solve their specific business problem.
Instead of discussing the blanket benefits and capabilities of your product like an older, scripted pitch, tailor the conversion to prove how your product solves their exact problem.
Whenever you feel the conversation stagnating or becoming distracted, return to their problem and ask about the future implications this could have if it were to go unsolved.
Keep the conversation focused on how your product can benefit the prospect’s business by solving their problem and preventing future pain-points.
4.Ask for their business.
The ultimate reason you’re making a pitch is to make a sale. Currently, 85% of sales phone calls don’t even ask about the possibility of a sale.
It’s easy to worry that mentioning a future transaction will put the prospect off, but a pitch works both ways- they know why you’re on the phone.
Once you’ve understood their business problem and outlined your solution, simply ask if it’s something they would be interested in, or if they’re happy to move forward on it.
Prospects expect you to ask this question, and their answer will help you ask further questions about budget, urgency and capacity.
Having the courage to ask about the sale is a huge part of achieving success.
5.Follow up- every time!
No matter how good your initial pitch is, if you aren’t persistent in following up, you won’t secure those big sales wins.
70% of salespeople only send one follow-up email, and then give up on that opportunity. You’ll never achieve success this way. In fact it can take as many as 5-7 touchpoints to get to a sale.
Decision makers are busy people. You need an enthusiastic follow up approach to catch them at the right time and keep your brand front of mind.
Fuel your email communications with engaging content and use LinkedIn to spark regular connections.
The importance of regular follow-up communication cannot be underestimated and above all else never put the phone down without having secured your next touchpoint with your prospect.
I hope you enjoyed this video. You’re now ready to create the ultimate pitch and secure sales success!
If you have any questions, please feel free to comment below and a member of our team will get back to you.
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See you next time